Why Are Interest Rates Not Working?
In theory, it was all so simple. Since inflation could not happen if the money supply was held stable, all you had to do was control the money supply and – no more inflation! The productive economy...
View ArticleFiscal Stimulus? Not Quite
The decision by the US Federal Reserve to cut interest rates to virtually zero, and the similar steps taken by other central banks, show how desperate are the world’s monetary authorities to avert a...
View ArticleAn Ideological Straitjacket
With inflation falling, a full percentage point cut in interest rates at the end of the month now looks like a done deal. But while a relaxation of monetary policy is both welcome and overdue, it does...
View ArticleRe-opening the Debate
Something important has happened in New Zealand politics. After two and a half decades in which economic policy has been a no-go area for political discussion, we have at last seen the beginnings of a...
View ArticleIs The Mad Butcher Mad?
The love-in between the Mad Butcher and the Prime Minister, dutifully reported in every detail by complaisant media, is perhaps best described as reciprocal back-scratching – a term that is at least...
View ArticleThe Same Tired Old Excuses
As job losses reach crisis proportions, and many point the finger at an overvalued exchange rate, we have to put up with the same old tired and ill-informed assertions to the effect that overvaluation...
View ArticleDon’t Throw Your Hats In The Air Just Yet.
A hike in interest rates next month is a done deal – and it will be the first of many. The virtual certainty of higher rates – presaged by Graeme Wheeler’s speech last week – is presented in the media...
View Article
More Pages to Explore .....